IN THE MATTER OF THE SECURITIES ACT,
R.S.O. 1990 c.S.5, AS AMENDED
- AND –
IN THE MATTER OF
HARRY STINSON AND SAPPHIRE TOWER DEVELOPMENT CORP.
O R D E R
(Sections 127 and 127.1)
WHEREAS on December 15, 2006, the Ontario Securities Commission (the “Commission’) issued a Notice of Hearing (the “Notice of Hearing”) pursuant to section 127 and 127.1 of the Securities Act, R.S.O. 1990, c.S.5, as amended (the “Act”) in relation to a Statement of Allegations issued by Staff of the Commission (“Staff”) in respect of the Respondents;
AND WHEREAS the Respondents entered into a settlement agreement with Staff of the Commission, dated December 15, 2006 (the “Settlement Agreement”), in which the parties have proposed a settlement of the proceeding commenced by the Notice of Hearing, subject to the approval of the Commission;
AND UPON reviewing the Settlement Agreement and the Statement of Allegations of Staff of the Commission, and upon hearing submissions from Staff of the Commission and from counsel for the Respondents;
AND WHEREAS the Commission is of the opinion that it is in the public interest to make this Order;
IT IS ORDERED THAT :
1. The Settlement Agreement is hereby approved;
2. Stinson and Sapphire Tower shall collectively pay the sum of $10,000 to the Commission toward the costs incurred by Staff in the investigation of this matter;
3. Stinson shall forthwith resign from any position(s) he holds as a compliance officer; and
4. Stinson’s registration with the Commission shall be subject to strict supervisory terms and conditions until June 30, 2007 and, in any event, until Stinson attends and completes the “Effective Management Seminar” offered by the Canadian Securities Institute or a like equivalent as approved by Staff.
DATED at Toronto this 20 th day of December 2006.
“Robert L. Shirriff”
Robert L. Shirriff, Q.C
“Carol S. Perry”
Carol S. Perry